The US Federal Reserve announced a $10bn (£6bn) reduction in its monthly bond purchases from $75bn to $65bn in the second straight month of winding down stimulus efforts.ASIA'S MARKETS ARE RESPONDING:
The central bank had been buying bonds in an effort to keep interest rates low and stimulate growth.
In a statement, the Fed said that "growth in economic activity picked up" since it last met in December.
Although the move was expected, US shares still fell on the news.
MARKETS »
GLOBAL STOCK MARKETS WILL GRADUALLY CORRECT AS THE FED REMOVES THE PUNCH BOWL.
MARKETS SHOULD FALL 25-40%, AND GOLD WILL RISE.
AS THE DISMAL CHRISTMAS-THROUGH-1ST QUARTER NUMBERS ROLL IN, THE FED NAY CHANGE COURSE AGAIN...
STAY TUNED...
| Nikkei 225 JAPAN | 15,007.06 | –376.85 | –2.45% | –7.88% | ||
| Hang Seng HONG KONG | 22,035.42 | –106.19 | –0.48% | –5.20% | ||
| Shanghai Composite CHINA | 2,033.08 | –16.83 | –0.82% | –3.07% | ||
| All Ordinaries AUSTRALIA | 5,199.36 | –41.24 | –0.79% | –2.96% |
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